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WAEC Commerce 2023 Question 28

Question 28

Foreign Trade

A reduction in the value of a country's currency in relation to that of other countries is

  1. A.inflation
  2. B.deflation
  3. C.devaluation.
  4. D.revaluation.
Show the answer and explanation

Answer: C (devaluation.)

Explanation

Devaluation is an official lowering of a currency's value against other currencies.